Secretary Foxx to Survey Australia’s P3
Transportation Secretary Anthony Foxx was in Australia the first week of August to check out how officials Down Under utilize public-private partnerships, the secretary announced on the department’s blog Aug. 2.
“I'm continuing to search across the globe for the most strategic ways we can employ P3s to address critical infrastructure needs," Foxx explained in the “Fast Lane” blog. "P3s are still relatively uncommon in the U.S., but on the other side of the world, Australia has become a global leader in using these arrangements to leverage smaller government investments to generate billions in private-sector financing for large projects."
Foxx said he will meet with state and federal policymakers to gain insight on best practices for advancing P3 projects during his visit to the world’s smallest continent.
Last month, DOT launched the Build America Bureau, a center aimed at assisting investors to connect with agencies in search of long-term financial backing to develop infrastructure projects.
“To the customer, there will be a single entity in charge of DOT credit, large scale, and intermodal project development, and a single point of contact for working with DOT on infrastructure finance and development,” Foxx wrote.
